I have a small JPG that I've converted into a RAW RGB format.
I've tried every combination of TOBASE64(), FORMATBASEN(), and
TOSTRING() that I can think of but still can't read the values.

For instance, if I open the .RAW file in PaintShop Pro, I can
see that the first pixel at (1,1) has an RGB set of 84,82,73. If I
open the JPG and look at the same pixel, the same RGB value of
84,82,73 which is kind of brownish grey.

If I open the .RAW is a hex editor, I can see the hex values
as "84-82-73-82-88-79-8c",etc. So, I would like to use
CFFILE/READBINARY to read the first set of RGB values. In reality,
I would like to read all sets of RGB values, three at a time.

Have you had a look at Christian Cantrell's method of
Using
ColdFusion to Write Out Binary Data. You could then just put
the number of bytes in place of
arrayLen(pic), remembering that one RGB set is 3 bytes.